Financial Services and Insurance

Cravath represented AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in connection with its $500 million registered fixed‑rate reset junior subordinated notes offering. AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust are wholly owned subsidiaries of AerCap Holdings N.V., the global leader in aircraft leasing. The notes will be listed on the Irish Stock Exchange. The transaction closed on April 1, 2025.

Cravath represented the initial purchasers in connection with the $400 million 144A/Reg. S high‑yield senior notes offering of goeasy Ltd., a leading full‑service provider of goods and alternative financial services that improve the lives of everyday Canadians. The transaction closed on April 1, 2025.

On April 10, 2025, an investor group led by White Mountains Insurance Group, Ltd. (“White Mountains”), Ethos Capital and British Columbia Investment Management Corporation announced it will acquire an ownership position in BroadStreet Partners, Inc. (“BroadStreet”), a leading North American insurance brokerage company. Under the terms of the agreement, Ontario Teachers’ Pension Plan will maintain a significant co‑control stake in BroadStreet and operate in partnership with the investment group. Cravath is representing White Mountains in connection with the transaction.

Cravath represented the European Investment Bank (“EIB”) in connection with its $4 billion SEC registered notes offering. The purpose of the EIB is to contribute to the balanced and steady development of the internal market among Member States of the European Union. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on March 18, 2025.

Cravath represented the underwriters in connection with the $500 million fixed rate/floating rate senior notes offering of First Horizon Corporation, a holding company for First Horizon Bank that provides various financial services. The transaction closed on March 7, 2025.

On April 3, 2025, IFLR honored Cravath as an advisor of the “Loan Deal of the Year” at the publication’s 2025 Europe Awards, in connection with the Firm’s representation of the lead arrangers and initial purchasers in the financing for TDR Capital and I Squared Capital’s €1.9 billion acquisition of Applus. In announcing the award, IFLR highlighted the “bespoke innovative English law financing arrangements” involved in the deal as well as the nine global jurisdictions it spanned. The publication also noted how “the deal teams navigated untested regulatory and other deal‑specific requirements that contained a number of firsts in the Spanish market.”

Seven Cravath partners were selected to serve on Law360’s 2025 Editorial Advisory Boards: Wes Earnhardt (Media & Entertainment), Brittany L. Sukiennik (Trials), Douglas Dolan (Capital Markets), Arvind Ravichandran (Tax Authority International), Jeffrey T. Dinwoodie (Banking), Adam M. Sanchez (Private Equity) and Benjamin G. Joseloff (International Trade). As Editorial Advisory Board members, they will provide feedback on Law360’s coverage and expert insight on how best to shape future coverage.

On February 25, 2025, Cravath was featured by Law360 as a “Securities Practice Group of the Year.” The profile highlighted the Firm’s “reputation as one of the top law firms that companies rely on for representation when faced with derivative lawsuits, investor class actions and other securities‑related litigation,” and recognized in particular the Firm’s representation of Robinhood in the sprawling “Meme Stock” litigation; Forward Air in its amended agreement to acquire Omni Logistics, resolving previously announced litigation; Root in its Sixth Circuit win affirming the dismissal of a putative securities class action; and Mylan in its appellate win affirming summary judgment in a securities class action.

On February 10, 2025, Cravath was featured by Law360 as a “Private Equity Practice Group of the Year.” The profile highlighted the Firm’s recent work advising on a number of significant mergers and acquisitions in the private equity space, including its representation of Amentum in its merger with Jacobs’ Critical Mission Solutions and Cyber and Intelligence businesses, as well as Brookfield Renewable in its and Cameco’s $7.875 billion acquisition of Westinghouse and its $2.8 billion acquisition of Duke Energy Renewables.

On January 29, 2025, Cravath partner Evan Norris participated in the American Conference Institute’s Cybersecurity Law and Compliance conference, which was held from January 29‑30 in Arlington, Virginia. Evan moderated a panel entitled “Lessons Learned from a Cyber Breach,” during which senior in‑house lawyers from leading retail, hospitality and financial services companies discussed their experiences and key lessons learned from handling significant cyber incidents.